Wise Business is the most cost-effective way for US small businesses to pay international contractors and receive foreign currency payments. This guide walks through the entire setup process — from registration to your first transfer — with specific steps for US-based LLCs and sole proprietors.
What you need before you start
- •Your EIN (Employer Identification Number) from the IRS — required for business verification
- •Government-issued ID: US passport, driver's license, or state ID
- •Business formation document: LLC operating agreement, articles of incorporation, or DBA filing
- •Business address (can be your home address for sole proprietors and single-member LLCs)
- •For sole proprietors without a formal entity: your SSN or ITIN plus proof of business activity (website, contracts, or invoices)
Step 1: Create your account
- •Go to wise.com/us/business — use the CréditoClaro link for your first fee-free transfer
- •Click "Register" and enter your business email address
- •Select your business type: Sole Trader, LLC, Corporation, or Partnership
- •Enter your legal business name exactly as it appears on your EIN confirmation letter
- •Set a strong password and enable two-factor authentication immediately
Step 2: Business verification
- •Wise will ask for your EIN, business address, and the nature of your business
- •Upload your government-issued ID (both sides if it is a driver's license)
- •Upload your business formation document
- •Complete the liveness check: a brief video selfie that confirms your identity in real time
- •Verification typically completes in 1-3 business days — you will receive an email confirmation
- •During verification, you can explore the dashboard but cannot send or receive funds
Step 3: Set up multi-currency accounts
- •Once verified, go to "Balances" and click "Open a balance"
- •Add USD (if not already open), EUR, GBP, and any currency your contractors are paid in
- •For Latin American contractors: add MXN (Mexico), COP (Colombia), ARS (Argentina), BRL (Brazil), CLP (Chile)
- •Each balance has its own account details — share these with clients who need to pay you in that currency
- •You can hold funds in any currency and convert when the rate is favorable
Step 4: Add your team and set up recipients
- •Go to "Team" to add your accountant, operations manager, or co-founder as a user
- •Set permission levels: Full access, Edit only, or View only
- •Go to "Recipients" and add each contractor with their local bank account details
- •For Colombian contractors: you need their bank name, account number, and account type
- •For Mexican contractors: you need their CLABE (18-digit interbank number)
- •Save recipients once and reuse them for every monthly payment
Step 5: Your first transfer
- •Click "Send" and select the recipient
- •Enter the amount — you can specify either the USD amount you send or the local currency amount they receive
- •Wise shows you the exact fee and exchange rate before you confirm — no surprises
- •Fund the transfer via ACH from your US business bank account (free, arrives in 1-2 business days)
- •Or fund via debit card for same-day processing (small fee applies)
- •Your contractor receives the funds directly in their local bank account, typically within 1-2 business days
Disclosure: CréditoClaro may receive a commission when you open a Wise Business account through our links. Your first transfer is free for new accounts.